Cathie Wood Buys $1.2M Worth Of SoFi Shares

On Thursday, Cathie Wood-led Ark Invest made a significant purchase of SoFi Technologies Inc SOFI shares, amidst a volatile market environment for the company. This move comes in the wake of Morgan Stanley’s recent downgrade of SoFi, citing overly optimistic expectations for the company’s banking business. The SoFi Trade Ark Invest, through its Ark Fintech Innovation ETF ARKF fund, purchased 133,191 shares of SoFi Technologies. The transaction was valued at $1.2 million based on the stock’s closing price of $9.09.